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Gap raises 2014 income on positive Q4
San Francisco -- Gap Inc. raised its annual profit guidance based on its fourth-quarter sales and reduced taxes. The retailer expects to report a profit of $2.86 to $2.87 per share for the year, up from its previous estimate of $2.73 to $2.78 per share.
Gap reported that its net sales increased 3% for the quarter, to $4.71 billion compared with $4.58 billion for the fourth quarter last year. Same-store sales rose 2%.
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Forever 21 opens flagship on Fifth Avenue
Forever 21 has joined the crowded fast fashion scene on New York City’s Fifth Avenue by opening a new 36,000 square foot flagship store.
The store is spread out over four floors and will carry Forever 21 Men, Forever 21+, F21 Contemporary, basics, denim and shoes.
The new flagship takes over the site of a former H&M store, which closed in December a few months after the opening of its own new flagship on 48th Street.

